Cortina Asset Management LLC Sells 1,640 Shares of Argo Group International Holdings, Ltd. (AGII)

Cortina Asset Management LLC reduced its holdings in Argo Group International Holdings, Ltd. (NASDAQ:AGII) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 242,351 shares of the insurance provider’s stock after selling 1,640 shares during the period. Cortina Asset Management LLC owned about 0.80% of Argo Group International Holdings worth $14,905,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Argo Group International Holdings in the 3rd quarter valued at $411,000. Macquarie Group Ltd. boosted its holdings in shares of Argo Group International Holdings by 6.0% in the 3rd quarter. Macquarie Group Ltd. now owns 44,391 shares of the insurance provider’s stock valued at $2,730,000 after acquiring an additional 2,518 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Argo Group International Holdings by 0.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 448,399 shares of the insurance provider’s stock valued at $27,576,000 after acquiring an additional 1,291 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Argo Group International Holdings by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 164,846 shares of the insurance provider’s stock valued at $10,138,000 after acquiring an additional 4,160 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in shares of Argo Group International Holdings by 3.9% in the 3rd quarter. Pzena Investment Management LLC now owns 594,713 shares of the insurance provider’s stock valued at $36,575,000 after acquiring an additional 22,078 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

AGII has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Argo Group International Holdings from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Friday, August 11th. BidaskClub raised shares of Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a report on Saturday, August 19th.

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Shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) traded up $0.93 during midday trading on Tuesday, reaching $59.15. 170,500 shares of the company were exchanged, compared to its average volume of 119,671. Argo Group International Holdings, Ltd. has a 12-month low of $56.15 and a 12-month high of $69.03. The stock has a market capitalization of $1,750.00, a P/E ratio of 76.61 and a beta of 0.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.52 and a quick ratio of 0.52.

Argo Group International Holdings (NASDAQ:AGII) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($2.90). The company had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $433.90 million. Argo Group International Holdings had a negative net margin of 13.95% and a negative return on equity of 13.29%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. equities analysts predict that Argo Group International Holdings, Ltd. will post 0.87 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, November 30th. Argo Group International Holdings’s dividend payout ratio (DPR) is 63.91%.

In related news, insider Kevin James Rehnberg sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $59.74, for a total transaction of $149,350.00. Following the completion of the sale, the insider now directly owns 30,793 shares in the company, valued at $1,839,573.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark E. Watson III sold 22,246 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $60.19, for a total transaction of $1,338,986.74. Following the sale, the insider now owns 593,661 shares of the company’s stock, valued at $35,732,455.59. The disclosure for this sale can be found here. 4.86% of the stock is owned by corporate insiders.

Argo Group International Holdings Profile

Argo Group International Holdings, Ltd. is an underwriter of specialty insurance and reinsurance products in the property and casualty market. The Company operates through four segments: Excess and Surplus Lines, Commercial Specialty, International Specialty and Syndicate 1200. Excess and Surplus Lines segment carriers focus on risks that the standard (admitted) market is unwilling or unable to underwrite.

Institutional Ownership by Quarter for Argo Group International Holdings (NASDAQ:AGII)

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